IAS/IFRS and financial reporting quality:Lessons from the European experience

This paper discusses the effects of the adoption of IAS/IFRS in Europe on the quality of financial reporting.In doing so,it adopts the perspective of stock market investors and focuses on value-relevance research.The adoption of IAS/IFRS in Europe is an example of accounting standardization among countries with different institutional frameworks and enforcement rules.This allows investigating whether,and to what extent,accounting regulation per se can affect the quality of financial reporting and leads to convergence in financial reporting.This is a key issue for standard setting purposes as IAS/IFRS have been adopted in very diverse countries all over the world,and many others are likely to adopt them in the near future.

香港会计准则与IFRS全面趋同的影响：基于盈余的价值相关性和审计师反应的证据

本文的研究有两个目的：第一个目的是研究国际财务报告准则（IFRS）的采用对盈余相关性的影响。2005年标志着香港会计准则与IFRS的全面趋同，要求上市公司必须同时披露基于新的IFRS的和基于旧的香港公认会计准则的信息（非IFRS），也因此为我们提供了一个研究机会。第二个目的是考查审计师是否以及怎样通过他们的定价决策来对评估IFRS所带来的不同风险。研究结果表明，香港执行IFRS完全趋同后，盈余的价值性相关性有所改善。而且，相对于非IFRS，审计费用对新的IFRS的会计数据更敏感，这与审计师根据IFRS下不同的风险来定价的解释一致。